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Parexel Announces Updates to Board of Directors

1. Jeff Bernstein joins Parexel's Board of Directors from Goldman Sachs. 2. His expertise includes healthcare investment and private equity. 3. Bernstein aims to enhance Parexel's strategic growth objectives. 4. Goldman Sachs emphasizes its leadership in alternative investments. 5. Parexel aims to improve clinical trial efficiency for better patient access.

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Why Bullish?

Bernstein's appointment may strengthen Parexel's growth, benefiting GS's investment interests in healthcare.

How important is it?

Leadership transitions at Parexel could influence GS's healthcare investments positively over time.

Why Long Term?

The strategic changes at Parexel could lead to substantial returns for GS in the future.

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March 05, 2025 09:00 ET  | Source: Parexel International LLC Jeff Bernstein, Partner, Private Equity, Goldman Sachs Asset Management, and Co-Head, Goldman Sachs Healthcare Private Equity Investing, joins as new Director.Mr. Bernstein succeeds Michael Bruun in the Goldman Sachs Board seat as part of a planned rotation.Mr. Bernstein’s appointment continues Parexel’s focus on advancing its strategic roadmap to deliver on the company’s growth objectives. DURHAM, N.C., March 05, 2025 (GLOBE NEWSWIRE) -- Parexel, one of the world's largest clinical research organizations (CROs) providing the full range of Phase I to IV clinical development services, today announced the appointment of Jeff Bernstein, Partner, Private Equity, Goldman Sachs Asset Management, and Co-Head, Goldman Sachs Healthcare Private Equity Investing, to its Board of Directors effective March 5, 2025. Mr. Bernstein succeeds Michael Bruun, Partner, Global Co-Head of Private Equity, Goldman Sachs Asset Management, as part of a planned rotation. “Michael Bruun has been a tremendous asset to our Board over the past two years and we’re incredibly grateful for his engagement, guidance and leadership,” said Peyton Howell, Chief Executive Officer. “We thank Michael for his service and wish him the very best in his future endeavors.” She continued, “We’re delighted to welcome Jeff Bernstein to the Parexel Board. His deep knowledge across the global financial and healthcare landscape will be invaluable as we work to create even greater value for our stakeholders in 2025 by leveraging unique insights, driving best-in-class delivery and building trust to achieve market-leading growth.” Mr. Bernstein brings significant healthcare investment, financial and public company Board expertise to Parexel. He joined Goldman Sachs as an Analyst in 2008, was named Managing Director in 2019 and made Partner in 2024. Sheri McCoy, Chairperson of the Board, added, “Jeff’s extensive background in healthcare will be a great asset to the Board as we prepare for the next phase of Parexel’s growth. We look forward to leveraging his insights as we work to advance our strategic roadmap and deliver on our growth objectives.” Mr. Bernstein currently serves on the boards of Advanced Recovery Systems, AvaSure, Capital Vision Services (referred to publicly as MyEyeDr.) and MDVIP. He previously served on the boards of several other healthcare companies, including Brighton Health Plan Solutions, Privia Health Group and Upstream Rehabilitation. Mr. Bernstein earned a Bachelor of Arts in Economics and a certificate in Finance from Princeton University. “I’m extremely pleased to join Parexel’s Board,” said Mr. Bernstein. “I look forward to supporting the company as it differentiates and innovates to advance its position as a leading global CRO and accelerate the delivery of life-enhancing new therapies to patients worldwide.” About ParexelParexel is among the world’s largest clinical research organizations (CROs), providing the full range of Phase I to IV clinical development services to help life-saving treatments reach patients faster. Leveraging the breadth of our clinical, regulatory and therapeutic expertise, our team of more than 21,000 global professionals works in partnership with biopharmaceutical leaders, emerging innovators and sites to design and deliver clinical trials with patients in mind, increasing access and participation to make clinical research a care option for anyone, anywhere. Our depth of industry knowledge and strong track record gained over the past 40 years is moving the industry forward and advancing clinical research in healthcare’s most complex areas, while our innovation ecosystem offers quality solutions to make every phase of the clinical trial process more efficient. With the people, insight and focus on operational excellence, we work With Heart™ every day to treat patients with dignity and continuously learn from their experiences, so every trial makes a difference. This approach continues to earn us recognition industrywide, with Parexel being the recipient of the 2024 and 2023 Society for Clinical Research Sites (SCRS) Eagle Award for advancing the clinical research profession through strong site partnerships, named “Best Contract Research Organization” in November 2023 by an independent panel for Citeline, and “Top CRO to Work With” by investigative sites worldwide in the 2023 WCG CenterWatch Global Site Relationship Benchmark Survey. For more information, visit parexel.com and follow us on LinkedIn, X, Facebook and Instagram. About EQTEQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.More info: www.eqtgroup.comFollow EQT on LinkedIn, Twitter, YouTube and Instagram About Private Equity at Goldman Sachs AlternativesGoldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of December 31, 2024. Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.Follow us on LinkedIn.

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